Jefferies Group Weighs in on Newmont Mining Co.’s Q1 2018 Earnings (NEM)

Newmont Mining Co. (NYSE:NEM) – Stock analysts at Jefferies Group issued their Q1 2018 earnings estimates for shares of Newmont Mining in a research note issued to investors on Tuesday, April 17th. Jefferies Group analyst C. Lafemina anticipates that the basic materials company will post earnings of $0.37 per share for the quarter. Jefferies Group also issued estimates for Newmont Mining’s FY2018 earnings at $1.44 EPS.

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Newmont Mining (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.92 billion. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. Newmont Mining’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS.

A number of other equities analysts have also commented on NEM. Deutsche Bank boosted their price objective on Newmont Mining from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, April 11th. BMO Capital Markets set a $46.00 price objective on Newmont Mining and gave the stock a “buy” rating in a research note on Wednesday, March 28th. B. Riley boosted their price objective on Newmont Mining from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. ValuEngine raised Newmont Mining from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Royal Bank of Canada reissued a “sell” rating and issued a $44.00 price objective on shares of Newmont Mining in a research note on Wednesday, April 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $42.93.

Newmont Mining stock opened at $41.38 on Wednesday. The company has a current ratio of 3.63, a quick ratio of 3.14 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $22,096.53, a price-to-earnings ratio of 28.34 and a beta of 0.25. Newmont Mining has a 52 week low of $31.42 and a 52 week high of $42.04.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Wednesday, March 7th. This is a positive change from Newmont Mining’s previous quarterly dividend of $0.08. Newmont Mining’s dividend payout ratio is 38.36%.

In related news, EVP Elaine J. Dorward-King sold 3,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $39.33, for a total value of $117,990.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP E Randall Engel sold 5,700 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $40.23, for a total value of $229,311.00. Following the completion of the sale, the executive vice president now owns 239,700 shares of the company’s stock, valued at approximately $9,643,131. The disclosure for this sale can be found here. Insiders have sold 23,450 shares of company stock worth $919,544 in the last ninety days. 0.36% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB increased its holdings in Newmont Mining by 58.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 68,919 shares of the basic materials company’s stock valued at $2,586,000 after purchasing an additional 25,558 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Newmont Mining by 18.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 105,487 shares of the basic materials company’s stock valued at $3,958,000 after purchasing an additional 16,256 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Newmont Mining by 5.2% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 219,927 shares of the basic materials company’s stock valued at $8,252,000 after purchasing an additional 10,835 shares during the last quarter. Compagnie Lombard Odier SCmA increased its holdings in Newmont Mining by 1.6% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 92,755 shares of the basic materials company’s stock valued at $3,482,000 after purchasing an additional 1,470 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in Newmont Mining by 52.2% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 487,300 shares of the basic materials company’s stock valued at $18,283,000 after purchasing an additional 167,100 shares during the last quarter. Institutional investors and hedge funds own 82.24% of the company’s stock.

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Newmont Mining Company Profile

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.

Earnings History and Estimates for Newmont Mining (NYSE:NEM)

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